Cook Appears at Apple Employee Meeting, Attempts to Quell Speculation About Stepping Down as CEO
Tim Cook, who will step down as Apple's CEO later this year, told employees on Tuesday that he is "in good health" and plans to serve as executive chairman for the long term. Cook made the remarks at a meeting with all employees. Apple previously announced that the CEO position will be transferred to hardware head John Ternus on September 1st. The two executives held the meeting at the Steve Jobs Theater at Apple headquarters in Cupertino, California, discussing topics including artificial intelligence, product plans, and design.
“I’m excited to continue serving Apple as executive chairman,” said Cook, 65. “I’m in good health, I have plenty of energy, and I plan to be in this role for a long time.”
Cook’s remarks appear to be an attempt to quell speculation about the reasons for his stepping down. While Ternus has long been seen as a successor to the CEO position, Cook had not previously hinted at an impending departure.
“I’m going to do everything I can to support John in any way he needs it,” Cook said at the meeting. “I’ll be available with my knowledge and experience, and as someone to bounce ideas off of. Apple will always be my top priority. It’s my life’s work, and I can’t imagine my life without Apple.”
However, he stated that “there can only be one CEO at a time.” Taking on the new role of executive chairman will allow him to focus on strengthening Apple’s global relationships.
“In that area, we’ve built strong relationships over the years, and even decades, and I think I can contribute there,” he said. “And I may also help with other things,” he added.
After delivering his prepared remarks, Cook was asked why he chose to step down now. He said he wanted to achieve “the best transition ever,” which meant “the company has to be doing really well,” “the product roadmap has to be incredibly strong,” and Ternus had to be “ready to take over.”
Cook pointed out that the company currently has an “amazing” product lineup and achieved its best quarterly performance ever during the recent holiday season. “Those three things came together, and they’re coming together again now,” Cook said. “So the timing is right.”
He said he wants the handover to be “a textbook succession plan, the best in the world. And I hope business schools will write about it.”
Incoming CEO John Ternus said Apple will “change the world again.”
In his address to employees, Ternus said he was “especially excited to take on this role at this moment, because I can tell you we’re about to change the world again.”
He said Apple has “an incredible roadmap ahead” and that, “I’m not exaggerating, this is the most exciting time to be building products and services at Apple in my entire career.”
Apple is preparing to launch a foldable iPhone this fall and is developing several new home and wearable devices.
“Artificial intelligence is going to create almost limitless potential. We’re going to unlock new possibilities, create entirely new opportunities for our products and services, and I’m incredibly excited about what that means for our users,” he said.
Ternus took over the company’s design team last year and also pledged to continue putting the look and feel of Apple products at the core. “We’re going to continue to focus on design, because design is at the heart of everything Apple does. Apple has brought great design to more people than any company in history.”
He added, “Some things will never change, and won’t change.” The incoming CEO promised to continue advancing the company’s work on privacy, security, and environmental protection.
“As a company, our core will not change,” said Ternus, 50. “Our mission will not change.”